Question: You setup an LLC for me that is owned by a revocable living trust you created. I gave the bank a copy of the Articles of Organization, the Operating Agreement, the Trust Agreement and the Certification of Trust, but the bank won’t open an account for the LLC unless you send the bank a letter that says that I am the trustee of the trust that is the member of the LLC?
Answer: You are dealing with an idiot banker because he/she wants somebody who is not an owner of the LLC or affiliated with the LLC, i.e., me, to sign
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How Minnesota Companies Will Need to Comply with The Corporate Transparency Act
In an attempt to thwart money laundering, terrorism financing, and other illegal corporate activity that is sometimes hidden behind so-called “shell” companies, in 2022 Congress passed the Corporate Transparency Act, 31 U.S.C. § 5336 (2022) (“CTA” or the “Act”). The CTA will require most smaller corporations and limited liability companies (“LLCs”) registered in Minnesota and […]
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Phoenix Law Firm by Weinberger Law
Phoenix Law Firm Offers Creative and Affordable Option for Business Legal Services in 2023
Looking for an affordable Phoenix Law Firm Offers Creative and Affordable Option for Business Legal Services in 2023? The corporate law and contract law lawyers at Weinberger Law offers professionals to effectively operate to help local business with expert legal advise. A good business team includes ready access to legal counsel. For those businesses that can afford to do so, an in-house general counsel is often the answer. However, this solution is not feasible for most small companies. This includes, especially start-ups, who may often
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Arizona’s Pass Through Entity Tax: What You Need to Know
As a business owner in Arizona, you may have heard about the Pass Through Entity (PTE) tax codified in Arizona Revised Statutes Section 43-1014. This tax can have significant implications for your business and its owners. In this article, we’ll take a deep dive into what the PTE tax is, how it works, and what you need to know to ensure compliance.
What is Arizona’s Pass Through Entity Tax?
The PTE tax was introduced in Arizona in 2019 as part of the state’s efforts to conform to the federal Tax Cuts and Jobs Act (TCJA) of 2017. Essentially, the
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I Want Investors to Invest in My LLC
Question: I am interested in more information on Arizona Revised Statutes Section 44-1844.A. I am want to open a new business and I’m looking for investors. I want information on how to do it without affecting the Arizona Securities Division.
Answer: If you will offer interests in your LLC to investors in exchange for them paying money or value assets you are offering and selling a security and must comply with federal and state securities laws. If you fail to comply with federal and state securities laws and an investor loses money federal and state securities laws say the
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How Many LLCs Should I Form?
Question: You have formed most, if not all, of my LLCs over the years and I am grateful for the efficiency, cost and professionalism. I do have two quick questions.
- Is it best to have rentals each in their own LLC or is okay to have them all under one?
- What is best practice for banking? Is it best to have a separate account for each for the sake of liability?
Answer: The reason you want multiple LLCs to operate multiple businesses or own multiple real estate properties is because you don’t want all of your eggs in one basket.
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V. John Ella Interviewed on Fox 9 News Regarding Regulation of Med Spas in Minnesota and Practicing Medicine Without a License
TMB Shareholder V. John Ella was featured as a commentator on a Fox 9 news segment that aired on March 1, 2023. The story concerned a criminal complaint alleging that an individual in Woodbury, Minnesota held herself out as a nurse and worked at a med spa although she had no nursing license and did […]
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Minnesota Defamation Claims are not Tolled by the “Discovery Rule”
If you just discovered that you were defamed over two years ago your claim is barred. That was the holding by the Court of Appeals in Kerber v. Recover Health of Minnesota, Inc., No. A-22-0278 (Minn. Ct. App. Sept. 6, 2022). The pro se plaintiff in that case sued her former employer for discrimination and […]
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V. John Ella to Present at “The Complete Employment Lawyer” Seminar
TMB shareholder V. John Ella will be speaking on the topic of “Non-Competes and Trade Secrets” at a continuing education seminar called “The Complete Employment Lawyer” for Minnesota CLE. Attendees of the seminar will receive a copy of “The Complete Employment Lawyer’s Quick Answer Book” which includes a chapter co-written by TMB of-counsel attorney Jeff […]
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Minnesota Invasion of Privacy Claim Found to be Properly Pled by Federal Court
Minnesota recognized the tort of invasion of privacy in 1998. Lake v. Wal-Mart Stores, Inc., 582 N.W.2d 231, 236 (Minn. 1998). There are three versions of the common law invasion of privacy tort under Minnesota law: (1) intrusion upon seclusion; (2) appropriation; and (3) publication of private facts. Since Lake, the number of reported court […]
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Minnesota Professional Licensing Standards Clarified by Court of Appeals
The Minnesota Court of Appeals has clarified the standard for challenging the denial of a professional license under Minnesota law. In the Matter of the Short Call Teaching License Application of Jeronimo Yanez, 983 N.W.2d 89 (Minn. Ct. App. 2022). This case involved an individual who was prominent in the news in 2016. In his […]
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Scottsdale Law Firm by Weinberger Law
Scottsdale Law Firm by Weinberger Law Offers Creative and Affordable Option for Business Legal Services in 2023
Looking for an affordable Phoenix Law Firm Offers Creative and Affordable Option for Business Legal Services in 2023? The corporate law and contract law lawyers at Weinberger Law offers professionals to effectively operate to help local business with expert legal advise. A good business team includes ready access to legal counsel. For those businesses that can afford to do so, an in-house general counsel is often the answer. However, this solution is not feasible for most small companies. This includes, especially start-ups,
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Minnesota Human Rights Act Amended to Prohibit Discrimination Based on Natural Hair Texture or Style
On Wednesday, February 2, 2023, Minnesota Governor Tim Walz signed the CROWN Act banning discrimination based on a person’s natural hair texture or style into law. The CROWN Act stands for Creating a Respectful and Open World for Natural Hair and ensures that hair discrimination is legally included as a form of racial discrimination under […]
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Weinberger Law Moves to New Office
Scottsdale, Arizona – July 14, 2020 – Weinberger Law, a Scottdale based business-focused law practice announced it moved its offices to a new location at Suite 200 on 17767 N Scottsdale Rd in Scottsdale, Arizona, to accommodate the growth of the practice.
“As we grew over the last several years, our previous office was not adequate for the number of cases we handled and the number of clients we served,” said Brian Weinberger. “Our new office is much more spacious, more comfortable, very modern in design, and considerably more easily accessible from major freeways in the Valley”, he added.
The new
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Non-Competition Agreement
A non-competition agreement, most commonly referred to as a “non-compete,” is a contract under which a party agrees not to engage in a certain line of business for a specified period of time in a specific geographic region. Non-compete agreements are typically used in two contexts: in the employment setting and when a business is being sold.
Employment
If utilized by an employer, the employee (or independent contractor) agrees that he or she will not engage in the same business as their employer for a specified period of time after they leave the company (e.g., 1 year) anywhere within
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How Will Minnesota Non-Compete Law be Impacted by Proposed FTC Regulations
Introduction On January 5, 2023, the Federal Trade Commission (FTC) proposed a regulation that would ban the use of non-compete agreements nationwide. The proposal is an attempt by the FTC to enforce and apply existing anti-trust laws in a much more expansive manner. The Biden administration has been signaling a tough stance on non-competes for […]
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